Energy bets are mostly higher led by WTI oil and natural gas :: InvestMacro

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Here are the latest graphs and statistics for Commitment of Traders (COT) data published by the Commodity Futures Trading Commission (CFTC).

The latest COT data is updated by Tuesday 28th June It presents a quick look at how the major traders (speculators for profit and business entities) are positioned in the futures markets.

Speculative bets in the energy market were mostly higher this week as four of the six energy markets we cover took a higher position this week while two had lower contracts.

Gains in the energy markets were led by WTI (10,190 contracts) and natural gas (1,450 contracts) as Bloomberg Commodities (703 contracts) and Gasoline (692 contracts) also showed a positive week. Meanwhile, the decline in speculators’ bets this week is led by Brent Crude Oil (-4,667 contracts) with Heating Oil (-2,056 contracts) also posting lower bets during the week.

Strengths (measuring 3 years of speculative trades, 0 to 100 where above 80 percent is very bullish and less than 20 percent is very bearish) shows that the Bloomberg Commodity Index (79 percent) and Heating Oil (54 percent) Above the midpoint of the past three years while all other markets are below the 50 per cent level. Gasoline and WTI are in sharp bearish positions as they both come in at 3 percent currently.

The Strengths Trends (or Action Index, which calculates 6-week changes in strength scores) shows that Heating Oil (16 percent) and the Bloomberg Commodity Index (9 percent) are also the only markets with uptrend scores currently. Brent crude (-13%) and West Texas Intermediate (-9%) are leading downward trends.

WTI Crude Oil Futures:

Large speculators on WTI crude oil futures that stood this week resulted in a net position of 299,692 contracts in the data released through Tuesday. This was a weekly advance of 10,190 contracts from the previous week which netted 289,502 contracts.

This week’s current strength score (trader’s position range over the past 3 years, scaled from 0 to 100) shows that speculators are currently in Bearish-Extreme position with a score of 3.4%. Commercials are bullish-extreme with a score of 98.6 percent and small traders (not shown in the chart) are up 54.8 percent.

Brent crude futures contracts:

Major speculators on Brent crude futures this week resulted in a net position of -42,677 contracts in the data reported through Tuesday. This was a weekly decrease of -4,667 contracts from the previous week with a total net contract of -38,010 contracts.

This week’s current strength score (range of the trader’s position over the past 3 years, measured from 0 to 100) shows that the speculators are currently 39.6 percent bearish. Commercials are up 62.2% and small traders (not shown in chart) are down 26.0%.

Natural gas futures contracts:

The large natural gas futures speculator who stood this week resulted in a net position of -129,419 contracts in data reported through Tuesday. This was a weekly advance of 1,450 contracts from the previous week which totaled -130,869 contracts net.

This week’s current strength score (range of the trader’s position over the past 3 years, measured from 0 to 100) shows that the speculators are currently down 39.7 percent. Commercials are up 59.5 percent and small traders (not shown in the chart) are up 71.5 percent.

Gasoline blend futures:

This week, the major speculators of the gasoline blend futures contract resulted in a net position of 32,099 contracts in the data reported through Tuesday. This was a weekly advance of 692 contracts from the previous week which totaled 31.407 contracts.

This week’s current strength score (trader’s position range over the past 3 years, scaled from 0 to 100) shows that the speculators are currently Bearish-Extreme with a score of 2.8%. The commercials are Bullish-Extreme with a score of 94.6 percent and the small traders (not shown in the chart) are very bullish with a score of 81.7 percent.

#2 New York Heating Oil Futures:

The big No. 2 speculator in NY-Harbor heating oil futures standing this week has resulted in a net position of 7,508 contracts in the data reported through Tuesday. This was a weekly decrease of -2.056 contracts from the previous week which totaled 9,564 contracts.

This week’s current strength score (range of a trader’s position over the past 3 years, scaled from 0 to 100) shows that speculators are currently optimistic at 53.5 percent. Commercials are down 43.9 percent and small traders (not shown in the chart) are up 61.5 percent.

Bloomberg Commodity Index Futures:

The big speculator of Bloomberg Commodity Index futures which stands this week has resulted in a net position at -7,349 contracts in the data reported through Tuesday. This was a weekly gain of 703 contracts from the previous week with a total net of -8,052 contracts.

This week’s current strength score (range of a trader’s position over the past 3 years, measured from 0 to 100) shows that speculators are currently optimistic at 79.4 percent. Commercials are down 20.4% and small traders (not shown in chart) are down 21.6%.

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*COT Report: COT data, released weekly to the public every Friday, is updated by the latest Tuesday (data 3 days old) and shows a quick look at how large speculators or non-commercials (profitable traders) are positioning in the futures markets.

The Commodity Futures Trading Commission (CFTC) classifies the positions of traders according to hedgers, commercial (traders who use futures contracts to hedge as part of a business), non-commercial (large traders who speculate to make profits from trading) and unreportable traders (usually small traders/speculators) as well as Their open interest (the contracts are open in the market at the time of reporting). See CFTC Standards over here.